TechFlow News — Yat Siu, Chairman of Animoca Brands, stated that once approved in Hong Kong, a Hong Kong dollar-pegged stablecoin would hold a unique position in the cryptocurrency market.
Siu said: "What makes the Hong Kong dollar interesting and different from most other currencies is its peg to the U.S. dollar. So if you're looking for another regulated currency that isn't from the U.S. but still tied to the U.S. dollar system, I believe the Hong Kong dollar could become a very compelling alternative."
Siu explained that a Hong Kong stablecoin could find significant and unique demand because the Hong Kong dollar is equivalent to the U.S. dollar, yet is neither the U.S. dollar nor located within the United States.
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